Algae Products Market By Type (Spirulina, Chlorella, Astaxanthin, Beta Carotene, Hydrocolloids), By Source (Brown, Blue – Green, Green, Red, Others), By Application (Nutraceuticals, Food & Feed Supplements, Pharmaceuticals, Paints & Colorants, Chemicals, Fuels, Others) - Growth, Share, Opportunities & Competitive Analysis, 2019 – 2027
Key Market Insights
"High demand for algae from the nutraceuticals and pharmaceutical industries growing the algae products market"
The rising application of algae in nutraceuticals & pharmaceutical industries has influenced the market growth in the recent past. The growing use of algae biomass for nutraceuticals purposes is expected to provide an attractive revenue stream for algae producers. Further, the growing industrial application of algae is providing business opportunities to the companies that have further impacted the market growth. Some companies are offering algae-based CO2 capturing and biofuel production that has opened a new revenue stream for their company. Wastewater remediation by algae presents high opportunities to lower wastewater treatment costs for companies working on industrial and domestic wastewater treatment.
Moreover, algae have high protein content and nutritional values which can be used as feedstock and food. Growing investment from food industries is influencing the demand for algae-based food products. Rising consumer health awareness and their growing demand for healthy food products are influencing the overall algae products market. However, the easy availability of cheap alternatives has a major challenge to the growth of the industry.
Furthermore, companies are extracting oil from algae and utilizing the rest of the algae to create biofuel. This has helped to reduce the consumption of coal, natural gas for powering the system. Additionally, companies are also producing plastic from algae. For instance, Algotek LLC, based in Oregon, USA, developed an algae-based plastic from brown algae powder which is sustainable and biodegradable. Growing innovation in the application of algae is expected to grow the market in the near future. Overall, the global algae products market was valued US$ 33.9 Bn in 2018 and is projected to reach US$ 56.5 Bn by 2027, expanding at a CAGR of 6.0% from 2019 to 2027.
Application Segment Analysis
"Nutraceuticals, food & feed supplements has major demand of algae"
In 2018, nutraceuticals and food & feed supplements segment together accounted for over 70% share of the global market in terms of value. These segments are projected to maintain their dominance during the forecast period of 2019 to 2027. Algae are rich and contain wide-ranging sources of health benefits including Omega 3, carbohydrates, antioxidants and proteins and have great potential to provide sustainable animal feed and nutraceuticals products. Algae also contain vital micronutrients and vitamins, as well as valuable pigments such as beta carotene, lutein, and astaxanthin. As a result, algae have emerged as exciting sources for higher-value, specialty animal feed and nutraceuticals products. Pharmaceutical is another lucrative application and offers huge market potentials. Algae find its applications for many products, and new ones are constantly being discovered.
Regional Analysis
"Europe Dominated the Market by Region"
In 2018, Europe was the largest consumer of algae products and accounted for 32% of global demand. High inclinations towards natural products have spurred the regional market growth. Europe is projected to maintain its dominance during the forecast period of 2019 to 2027. It is also projected to be the fastest-growing market during the forecast period. North America is the second-largest consumer of algae products. The market is witnessing growth owing to growing algae research industries in the region. Worldwide, by country, the U.S. is the largest consumer of algae products and projected to maintain its dominance in the near future. Other regions such as the Asia Pacific and Latin America offer huge untapped market potential.
"Technological advancement is keeping the market competitive"
The global algae products market is competitive in nature. The market players are adopting strategies such as partnership with other companies having excellence in technology, and launching new and advanced products to stay competitive in the global market. Following is the list of players included in the published reports.
List of Companies Covered:
- Algaetech International
- Alltech
- BlueBioTech International GmbH
- Cellana Inc.
- Cyanotech Corporation
- DIC Corporation
- Fuqing King Dnarmsa Spirulina Co., Ltd.
- Parry Nutraceuticals
- TAAU Australia Pty Ltd.
- Cargill, Incorporated
- ALGENOL
- Corbion
- Earthrise Nutritionals, LLC
- Others
Key Industry Development:
- In January 2018, Parry Nutraceuticals, formed a joint venture with Synthite Industries Ltd. to grow the business as a value-added algae company. The joint venture will set up a manufacturing facility in Tamil Nadu at an investment of about Rs. 400 million for the production of Phycocyanin, a natural blue pigment extracted from Spirulina. With this JV, company has expanded its geographical reach and expected to drive its growth in the Asia market.
- In September 2018, Cyanotech Corporation announced that it has joined Algae Biomass Organization (ABO) as a Gold-Level member. With this membership and assistance of ABO, the company’s effort in marketing and educating the consumer about algae product get reduced.
Historical & Forecast Period
The research report presents the analysis of each segment from 2017 to 2027 considering 2018 as the base year for the research. Compounded annual growth rate (CAGR) for each respective segments calculated for the forecast period from 2019 to 2027.
Market Segmentation
| ATTRIBUTE | DETAILS |
|---|---|
| Research Period | 2017-2027 |
| Base Year | 2018 |
| Forecast Period | 2019-2027 |
| Historical Year | 2017 |
| Unit | USD Billion |
| Segmentation |
Type Segment (2017-2027; US$ Bn) |
|
Source Segment (2017-2027; US$ Bn) |
|
|
Application Segment (2017-2027; US$ Bn) |
|
|
Geography Segment (2017-2027; US$ Bn) |
The current report also comprehends qualitative market valuation factors such as key market drivers, market trends, restraints and opportunities that give a better market understanding of the global algae products market. Additionally, the global report also comprises a graphical representation of a competitive landscape based on their market initiatives and strategies, product portfolio and business strengths.
Unique data points of this report
- Recent trends across different regions in terms of development of algae products market
- Attractive investment proposition for application segment as well as geography
Key questions answered in this report
- What was the market size of algae products market in 2018 and forecast up to 2027?
- What are the key factors driving the global algae products market?
- What are the key market trends and high-growth opportunities observed in the algae products market?
- Which is the largest regional market for algae products market?
- Which segment will grow at a faster pace? Why?
- Which region will drive the market growth? Why?
- Which players are leading the algae products market?
- What are the key strategies adopted by the leading players operating in the market?
1. Preface
1.1. Report Description
1.1.1. Purpose of the Report
1.1.2. Target Audience
1.1.3. USP and Key Offerings
1.2. Research Scope
1.3. Research Methodology
1.3.1. Phase I – Secondary Research
1.3.2. Phase II – Primary Research
1.3.3. Phase III – Expert Panel Review
1.3.4. Approach Adopted
1.3.4.1. Top-Down Approach
1.3.4.2. Bottom-Up Approach
1.3.5. Assumptions
1.4. Market Segmentation
2. Executive Summary
2.1. Market Snapshot: Global Algae Products (AP) Market
2.2. Global AP Market, by Type, 2018 (US$ Bn)
2.3. Global AP Market, by Source, 2018 (US$ Bn)
2.4. Global AP Market, by Application, 2018 (US$ Bn)
2.5. Global AP Market, by Geography, 2018 (US$ Bn)
3. Market Dynamics
3.1. Introduction
3.1.1. Global AP Market Value, 2017 – 2027, (US$ Bn)
3.2. Market Dynamics
3.2.1. Market Drivers
3.2.2. Market Restraints
3.3. Attractive Investment Proposition, by Geography, 2018
3.4. Market Positioning of Key Players, 2018
3.4.1. Major Strategies Adopted by Key Players
4. Global Algae Products (AP) Market, by Type , 2017 – 2027 (US$ Bn)
4.1. Overview
4.2. Spirulina
4.3. Chlorella
4.4. Astaxanthin
4.5. Beta Carotene
4.6. Hydrocolloids
5. Global Algae Products (AP) Market, by Source , 2017 – 2027 (US$ Bn)
5.1. Overview
5.2. Brown
5.3. Blue – Green
5.4. Green
5.5. Red
5.6. Others
6. Global Algae Products (AP) Market, by Application, 2017 – 2027 (US$ Bn)
6.1. Overview
6.2. Nutraceuticals
6.3. Food & Feed Supplements
6.4. Pharmaceuticals
6.5. Paints & Colorants
6.6. Chemicals
6.7. Fuels
6.8. Others (Lubricants, Cosmetics, etc.)
7. North America Algae Products (AP) Market Analysis, 2017 – 2027 (US$ Bn)
7.1. Overview
7.1.1. North America AP Market Value and Growth, 2017 – 2027, (US$ Bn)
7.2. North America AP Market Value, By Type, 2017 – 2027 (US$ Bn)
7.2.1. Market Analysis
7.3. North America AP Market Value, By Source, 2017 – 2027 (US$ Bn)
7.3.1. Market Analysis
7.4. North America AP Market Value, By Application, 2017 – 2027 (US$ Bn)
7.4.1. Market Analysis
7.5. North America AP Market Value, By Region/Country, 2017 – 2027 (US$ Bn)
7.5.1. Market Analysis
7.5.2. U.S.
7.5.3. Rest of North America
8. Europe Algae Products (AP) Market Analysis, 2017 – 2027 (US$ Bn)
8.1. Overview
8.1.1. Europe AP Market Value and Growth, 2017 – 2027, (US$ Bn)
8.2. Europe AP Market Value, By Type, 2017 – 2027 (US$ Bn)
8.2.1. Market Analysis
8.3. Europe AP Market Value, By Source, 2017 – 2027 (US$ Bn)
8.3.1. Market Analysis
8.4. Europe AP Market Value, By Application, 2017 – 2027 (US$ Bn)
8.4.1. Market Analysis
8.5. Europe AP Market Value, By Region/Country, 2017 – 2027 (US$ Bn)
8.5.1. Market Analysis
8.5.2. U.K.
8.5.3. Germany
8.5.4. France
8.5.5. Rest of Europe
9. Asia Pacific Algae Products (AP) Market Analysis, 2017 – 2027 (US$ Bn)
9.1. Overview
9.1.1. Asia Pacific AP Market Value and Growth, 2017 – 2027, (US$ Bn)
9.2. Asia Pacific AP Market Value, By Type, 2017 – 2027 (US$ Bn)
9.2.1. Market Analysis
9.3. Asia Pacific AP Market Value, By Source, 2017 – 2027 (US$ Bn)
9.3.1. Market Analysis
9.4. Asia Pacific AP Market Value, By Application 2017 – 2027 (US$ Bn)
9.4.1. Market Analysis
9.5. Asia Pacific AP Market Value, By Region/Country, 2017 – 2027 (US$ Bn)
9.5.1. Market Analysis
9.5.2. Japan
9.5.3. China
9.5.4. India
9.5.5. Rest of Asia Pacific
10. Rest of the World Algae Products (AP) Market Analysis, 2017 – 2027 (US$ Bn)
10.1. Overview
10.1.1. Rest of the World AP Market Value and Growth, 2017 – 2027, (US$ Bn)
10.2. Rest of the World AP Market Value, By Type, 2017 – 2027 (US$ Bn)
10.2.1. Market Analysis
10.3. Rest of the World AP Market Value, By Source, 2017 – 2027 (US$ Bn)
10.3.1. Market Analysis
10.4. Rest of the World AP Market Value, By Application, 2017 – 2027 (US$ Bn)
10.4.1. Market Analysis
10.5. Rest of the World AP Market Value, By Region, 2017 – 2027 (US$ Bn)
10.5.1. Market Analysis
10.5.2. Middle East & Africa
10.5.3. Latin America
11. Company Profiles
11.1. Algaetech International
11.2. Alltech
11.3. BlueBioTech International GmbH
11.4. Cellana Inc.
11.5. Cyanotech Corporation
11.6. DIC Corporation
11.7. Fuqing King Dnarmsa Spirulina Co., Ltd.
11.8. Parry Nutraceuticals.
11.9. TAAU Australia Pty Ltd.
11.10. Cargill, Incorporated
11.11. ALGENOL
11.12. Corbion
11.13. Earthrise Nutritionals, LLC
*AP - Algae Products
TABLE 1 Market Snapshot: Global Algae Products (AP) Market Value
TABLE 2 Impact Indicators
TABLE 3 Impact Analysis of Drivers and Restraints
TABLE 4 Global AP Market, by Type, 2017-2027, (US$ Bn)
TABLE 5 Global AP Market, by Source, 2017-2027, (US$ Bn)
TABLE 6 Global AP Market, by Application, 2017 – 2027, (US$ Bn)
TABLE 7 Global AP Market Value, by Region/Country, 2017 - 2027, (US$ Bn)
TABLE 8 North America AP Market, by Type, 2017-2027, (US$ Bn)
TABLE 9 North America AP Market, by Source, 2017-2027, (US$ Bn)
TABLE 10 North America AP Market, by Application, 2017 – 2027, (US$ Bn)
TABLE 11 North America AP Market Value, by Region/Country, 2017 - 2027, (US$ Bn)
TABLE 12 Europe AP Market, by Type, 2017-2027, (US$ Bn)
TABLE 13 Europe AP Market, by Source, 2017-2027, (US$ Bn)
TABLE 14 Europe AP Market, by Application, 2017 – 2027, (US$ Bn)
TABLE 15 Europe AP Market Value, by Region/Country, 2017 – 2027, (US$ Bn)
TABLE 16 Asia Pacific AP Market, by Type, 2017-2027 (US$ Bn)
TABLE 17 Asia Pacific AP Market, by Source, 2017-2027 (US$ Bn)
TABLE 18 Asia Pacific AP Market, by Application, 2017 – 2027 (US$ Bn)
TABLE 19 Asia Pacific AP Market Value, by Region/Country, 2017 – 2027, (US$ Bn)
TABLE 20 Rest of the World AP Market, by Type, 2017 - 2027, (US$ Bn)
TABLE 21 Rest of the World AP Market, by Source, 2017 - 2027, (US$ Bn)
TABLE 22 Rest of the World AP Market, by Application, 2017 – 2027, (US$ Bn)
TABLE 23 Rest of the World AP Market Value, by Region, 2017 - 2027, (US$ Bn)
TABLE 24 Algaetech International: Company Snapshot (Business Description; Profile Type Portfolio; Financial Information; Business Overview and Recent Development)
TABLE 25 Alltech: Company Snapshot (Business Description; Profile Type Portfolio; Financial Information; Business Overview and Recent Development)
TABLE 26 BlueBioTech International GmbH: Company Snapshot (Business Description; Profile Type Portfolio; Financial Information; Business Overview and Recent Development)
TABLE 27 Cellana Inc.: Company Snapshot (Business Description; Profile Type Portfolio; Financial Information; Business Overview and Recent Development)
TABLE 28 Cyanotech Corporation: Company Snapshot (Business Description; Profile Type Portfolio; Financial Information; Business Overview and Recent Development)
TABLE 29 DIC Corporation: Company Snapshot (Business Description; Profile Type Portfolio; Financial Information; Business Overview and Recent Development)
TABLE 30 Fuqing King Dnarmsa Spirulina Co., Ltd.: Company Snapshot (Business Description; Profile Type Portfolio; Financial Information; Business Overview and Recent Development)
TABLE 31 Parry Nutraceuticals: Company Snapshot (Business Description; Profile Type Portfolio; Financial Information; Business Overview and Recent Development)
TABLE 32 TAAU Australia Pty Ltd.: Company Snapshot (Business Description; Profile Type Portfolio; Financial Information; Business Overview and Recent Development)
TABLE 33 Cargill, Incorporated: Company Snapshot (Business Description; Profile Type Portfolio; Financial Information; Business Overview and Recent Development)
TABLE 34 ALGENOL: Company Snapshot (Business Description; Profile Type Portfolio; Financial Information; Business Overview and Recent Development)
TABLE 35 Corbion: Company Snapshot (Business Description; Profile Type Portfolio; Financial Information; Business Overview and Recent Development)
TABLE 36 Earthrise Nutritionals, LLC: Company Snapshot (Business Description; Profile Type Portfolio; Financial Information; Business Overview and Recent Development)
FIG. 1 Global Algae Products (AP) Market: Research Methodology
FIG. 2 Market Size Estimation – Top Down & Bottom up Approach
FIG. 3 Global AP Market Segmentation
FIG. 4 Global AP Market, by Type, 2018, (US$ Bn)
FIG. 5 Global AP Market, by Source, 2018, (US$ Bn)
FIG. 6 Global AP Market, by Application, 2018, (US$ Bn)
FIG. 7 Global AP Market, by Geography, 2018 (US$ Bn)
FIG. 8 Global AP Market Value, 2017 - 2027, (US$ Bn)
FIG. 9 Attractive Investment Proposition, by Geography, 2018
FIG. 10 Global Market Positioning of Key AP Providers, 2018
FIG. 11 Global AP Market Value Share, by Type, 2018 & 2027 (Value %)
FIG. 12 Global AP Market Value Spirulina, 2017 – 2027, (US$ Bn)
FIG. 13 Global AP Market Value for Chlorella, 2017 – 2027, (US$ Bn)
FIG. 14 Global AP Market Value for Astaxanthin, 2017 – 2027, (US$ Bn)
FIG. 15 Global AP Market Value for Beta Carotene, 2017 – 2027, (US$ Bn)
FIG. 16 Global AP Market Value for Hydrocolloids, 2017 – 2027, (US$ Bn)
FIG. 17 Global AP Market Value Share, by Source, 2018 & 2027 (Value %)
FIG. 18 Global AP Market Value for Brown, 2017 – 2027, (US$ Bn)
FIG. 19 Global AP Market Value for Blue – Green, 2017 – 2027, (US$ Bn)
FIG. 20 Global AP Market Value for Green, 2017 – 2027, (US$ Bn)
FIG. 21 Global AP Market Value for Red, 2017 – 2027, (US$ Bn)
FIG. 22 Global AP Market Value for Others, 2017 – 2027, (US$ Bn)
FIG. 23 Global AP Market Value Share by Application, 2018 & 2027 (Value %)
FIG. 24 Global AP Market Value for Nutraceuticals, 2017 – 2027, (US$ Bn)
FIG. 25 Global AP Market Value for Food & Feed Supplements, 2017 – 2027, (US$ Bn)
FIG. 26 Global AP Market Value for Pharmaceuticals, 2017 – 2027, (US$ Bn)
FIG. 27 Global AP Market Value for Paints & Colorants, 2017 – 2027, (US$ Bn)
FIG. 28 Global AP Market Value for Chemicals, 2017 – 2027, (US$ Bn)
FIG. 29 Global AP Market Value for Fuels, 2017 – 2027, (US$ Bn)
FIG. 30 Global AP Market Value for Other, 2017 – 2027, (US$ Bn)
FIG. 31 North America AP Market Value, 2017 – 2027, (US$ Bn)
FIG. 32 Europe AP Market Value, 2017 – 2027, (US$ Bn)
FIG. 33 Asia Pacific AP Market Value, 2017 – 2027, (US$ Bn)
FIG. 34 Rest of the World AP Market Value, 2017 – 2027, (US$ Bn)
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